Oct. 27 at 2:58 PM
$BORR Hamilton, Bermuda, October 27, 2025 – Borr Drilling Limited (NYSE: BORR) (the “Company”) today announced contract extensions for three of its premium jack-up rigs and provided an update on collections in Mexico.
The rigs Galar and Gersemi have each been awarded two-year firm contract extensions that will commence in direct continuation of their existing contracts in Mexico. The extensions also include two one-year unpriced options and improved commercial and payment terms. In addition, the rig Njord has received a contract extension through April 2026.
The contract value of the extensions is approximately
$213 million1, excluding options. The Company remains in active discussions with its customer in Mexico regarding long-term extensions for contracts that expire in the second quarter of 2026.
Additionally, the Company recently received payments of approximately
$19 million for its operations with Pemex.